Which roth ira reddit?

You can always move your Roth IRA later without tax consequences, so. I would recommend Schwab, Fidelity or TD Ameritrade first.

Which roth ira reddit?

You can always move your Roth IRA later without tax consequences, so. I would recommend Schwab, Fidelity or TD Ameritrade first. Of the ETFs listed, I would recommend VTI. First of all, congratulations on starting your investment journey.

You made the right first steps by depositing funds into your account and then buying some shares. The purpose of the ROTH IRA is for money to grow tax-free for the rest of your life. You can put it in a stock and that's fine, but classically it's recommended to put a broad-based ETF like VTI, as that reduces risk. I have QQQ and O in mine.

There are still questions about whether you intend to retire early, how you can balance retirement accounts and tax-advantaged accounts. The possibility of withdrawing the contribution from the penalty-free part of Roth makes them attractive for flexibility. Having a Roth established for 5 years is important. Once you're living off your assets, if you have any opportunity to collect tax losses, you can also convert from traditional to Roth at a low tax rate.

Or even if you need to make minimal capital gains in the year, you may have buffet to convert). Roth IRAs have been an attractive savings vehicle for many Americans in recent years, providing account holders with privileges and benefits not granted to traditional accounts. In retrospect, if I had a roth available, it would have been better to put more on the roth even with high taxes. The best way to contribute money is to link your bank account to the brokerage and then, from the agency's website, you place the funds into your roth IRA account.

As a side note: before you touch a taxable account, you must put a maximum of 401k (or equivalent) to the employer match, the HSA maximum to the IRS limits (I hope you have one of these: the best investment vehicle out there), the maximum of your Roth IRA with the IRS limits, and then the maximum of 401k with the limits of the IRIS. But I'm also realizing that, with the income Roth can't do with, you're likely to have savings beyond IRAs in normal tax brokerage accounts and, in retirement, you can leverage that to reduce your tax burden with withdrawals by mixing your income from pre-tax and after-tax assets. Thiel made the impossible possible by using investment acumen, buying shares in his startup PayPal in 1999 when they were still cheap, realizing the explosive growth potential they offered, and using the Roth IRA to protect their profits from taxes. Billionaire Peter Thiel, who is one of the most recognizable names in the world of finance, recently made waves in the media as the media revealed how he had turned a small Roth IRA into a multi-billion dollar entity over the course of just two decades, highlighting the potential that offer these accounts as long as the investment options are right According to the advice in this thread, I am going to close my taxable Robinhood investment account and instead open a Roth IRA.

I am a student who plans to leave their money (~5k or more) in the Roth IRA for the next few years and invest more in the account once I have graduated.